Each of the Following Can Pass Profits and Losses Through

question 12

True/False

Each of the following can pass profits and losses through to the owners: general partnership, limited partnership, S
corporation, and limited liability company.

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Definitions:

Utility

In economics, the satisfaction or benefit derived from the consumption of goods or services.

Ultimate Consumer

The final purchaser and user of a product or service, as opposed to an intermediary or a business buyer.

Newspaper Reporter

A professional tasked with investigating, writing, and reporting news stories for newspapers or news websites.

Plane Ticket

A document issued by an airline or a travel agency to confirm an individual's reservation for a specific flight.